Looking to diversify beyond AVEDX? The mutual funds below have the lowest correlation with AVEDX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from AVEDX.
Best Diversifiers for AVEDX
4 mutual funds have low correlation with AVEDX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes MDT All Cap Core Fund (QIACX) (Large Cap Blend Equities) with a 1Y correlation of 0.04, down from 0.68 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT All Cap Core Fund | 0.04 | 0.44 | 0.68 | 60 | Large Cap Blend Equities | AVEDX vs QIACX | |
| Federated Hermes MDT All Cap Core Fund Class R6 | 0.05 | 0.44 | 0.68 | 60 | Large Cap Blend Equities | AVEDX vs QKACX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.27 | 0.13 | 0.12 | 70 | Large Cap Blend Equities | AVEDX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.28 | 0.29 | 0.39 | 72 | Large Cap Blend Equities | AVEDX vs ORDNX | |
| CIT: BlackRock Equity Index Fund Class 1 | 0.39 | — | — | 88 | Large Cap Blend Equities | AVEDX vs WBREOX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AVEDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AVEDX and solid risk/return profiles. The least correlated is Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of 0.09, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | 0.09 | 0.29 | 0.35 | 93 | Energy | |
| Marathon Petroleum Corporation | 0.14 | 0.32 | 0.42 | 86 | Energy | |
| Chevron Corporation | 0.16 | 0.35 | 0.44 | 83 | Energy | |
| ConocoPhillips Company | 0.20 | 0.32 | 0.41 | 76 | Energy |
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